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SMDM Tutorial 1 Answer

SMDM Tutorial 1 Answer

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Published by Chia Kong Haw

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Published by: Chia Kong Haw on Sep 27, 2011
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ABDT5134 SMDM TUTORIAL 1 ANSWER 9/27/2011
Question 1
Management need to determine their capabilities that are capable of providing superior customervalue, and are difficult to copy by competitors.
Question 2
A mission statement is clear and considers statement (at most 2 paragraphs) that explains the
organization’s reason for existence.An organization’s vision ends to be future
oriented; it represents where the organization is headedand where it wants to go.
Question 3
The leadership between the corporate strategy and the strategies of its strategic business units(SBU) is a reinforcing one. The decision makers for each SBU must select strategic for implementingthe corporate strategy and producing the results that corporate management expects.Corporate level management, on the other hand should assists SBUs in achieving their objective.Corporate strategy and resources should help a SBU to compete more effectively than if the unitoperates on a completely independent basis. Corporate resources and synergies help the SBUestablish its competitive advantage. The strategic focus and priorities of corporate strategy guideSBU strategies.
Finally, top management’s expectations for the corporation indicate the r
esults expected from aSBU, including both financial and non-financial objective. In effect, the SBU are the action centers of the corporation.
Question 4
i.
 
Unique competitive position for the companyii.
 
Activities tailored to strategyiii.
 
Clear trade-offs and choices vis-à-visiv.
 
competitorsv.
 
Competitive advantage arising from fit acrossvi.
 
activitiesvii.
 
Sustainability coming from the activityviii.
 
system, not the partsix.
 
Operational effectiveness as a given
 
ABDT5134 SMDM TUTORIAL 1 ANSWER 9/27/2011
Question 5
The company needs to consider the product and the market involved.A single product market can offer the advantage of specialization. The company can become veryexperienced in the environment, competition, and market situation facing the core business.However, remaining with the core business may be risky, since the company is totally depend on asingle set of customer needs. If the customer need changes, the company may be unable torespond, therefore, many companies eventually expand business operations into new businessareas.A company can expand in 3 ways: 1) new market for existing products, 2) new product for existingmarket, 3) diversification. Each alternative can give the company a broad and safer base.Developing a new market with existing products and developing new products for current markettake lower risks as compared with diversification.Diversification is a popular option for corporate development. Diversification can take placethrough internal development or acquisition. Internal development may be expensive, anddangerous, if the company is inexperienced in the new area. Acquisition may also be costly, but theprincipal risk is the integration of management teams and strategies.The major risk in diversification is that one the new business is establish, and operational, there isthe risk that the new business will not be a success, thus the larger expenditure of resources will bewasted.However diver4sification of the business mean less risk for the business provided it has thecapabilities and resources available. Of the core business suffers a bad year; the losses are partiallyconfined success of diversification. A diversification if successful is attractive revenue for growthsince it reduces the dependencies of the core business on a single set of consumer needs.
Question 6
I.
 
Situation analysis
 
Market and competitor analysis
Markets need to be defined so that buyers and competition can be analyzed. For amarket to exist, Mr. Lee must identify people with particular needs and products. Hemust then fulfill these needs with products. Buyers must be willing and able topurchase this product.
 
Market segmentation
Look at the nature and extent of diversity of buyers’ need and wants in a market. Mr.Lee’s objective is to examine differences in needs and wants of customers and toidentify the segment’s sub groups within the product
-market of interest.
 
Continuous learning about markets
 
ABDT5134 SMDM TUTORIAL 1 ANSWER 9/27/2011
Mr. Lee must be able to sense what is happening in the market and what is likely tooccur in the future according to competitive threats beyond industry boundaries. Hemust develop strategies to seize opportunities and counter threats, and to anticipatewhat the market will be like in the future.
II.
 
Designing marketing strategy
 
Customer targeting strategies
Me. Lee must select the people that he wishes to serve in the product-market. Thisdecision is the focus of the marketing strategy since targeting guides the setting of objectives and developing a positioning strategy.
 
Customer positioning strategies
Mr. Lee must choose a combination of product, channel of distribution, price andpromotion strategies to position himself against his key competitors in meeting theneeds and wants of the target market.
 
Marketing relationship strategies
The driving force underlying these relationships is that Mr. Lee may enhance itsability to satisfy customers and cope with a rapidly changing business environmentthrough collaboration of his suppliers, distributions, and customers.
 
Planning for new products
Mr. Lee must closely coordinate new product planning since it is essential to satisfycustomer requirements and products with high quality at competitive prices. Newproduct decision include finding and evaluating ideas, selecting the most promisingfor development, designing marketing programs, market testing the products, andintroducing them to the market.
III.
 
Marketing program development
Mr. Lee must shape each of the following strategies into a coordinated plan of actionin order to be effective.
 
Product
The product is the machine that can help to save energy.
 
Distribution
Mr. Lee needs to decide the type of channel organization to use, the extent of channel management, and the intensity of distribution appropriate for his product.
 
Price
Mr. Lee must choose the role of price in his positioning strategy, including thedesired positioning of the product or brand as well as the margin necessary to satisfyand measure distribution channel participants.
 
Promotion
Mr. Lee must choose activities, such as advertising sales promotion, sales force,direct marketing and public relations that perform as essential role incommunicating the strategy to buyers.
IV.
 
Strategy implementation and management
 
Organizational design

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